After years of high interest rates, Americans may finally see relief as the Federal Reserve cuts benchmark rates, which could benefit car buyers, especially of EVs.
74% of car shoppers considering an EV said their purchase timing depends on the Fed rate cut, highlighting the impact of interest rates on consumer decisions.
EV buyers, facing higher average prices than gas cars, are hopeful for rate cuts to ease costs. It could be a final push for hesitant shoppers.
The market remains challenging for gas vehicles too, with 57% of gas car buyers also awaiting the Fed rate cut, indicating a wider trend in auto purchases.
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